White House outlines fiscal cliff consequences for Oregon

White House outlines fiscal cliff consequences for Oregon

The White House released a 6-page report detailing the consequences for Oregon residents if a deal to avert the fiscal cliff isn't found.

If the House of Representatives fails to extend the middle‐class tax cuts, the White House says:

1.4 million middle‐class Oregon families will see their federal income taxes increase.

A typical median‐income Oregon family of four (earning $66,000) could see its income taxes rise by $2,200 as a result of losing the combination of the expanded child credit, marriage penalty relief, and the 10 percent bracket.

Read more at OregonLive.com.

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